Central Banks Focus on Rising Prices

By

Leos Rousek and Natasha Brereton

Updated June 30, 2008 12:01 a.m. ET

BASEL, Switzerland -- Accelerating inflation, fueled by energy and food-price spikes, was the overwhelming concern of central bankers gathered over the weekend for the annual meeting of the Bank for International Settlements.

While financial-market turmoil has been the higher-profile focus of monetary authorities since the credit crisis erupted last August, even as the efforts to stem its shockwaves continue, central bankers are...